What is an invoice?
An invoice is a document issued by a business to request payment for goods or services provided. It details transaction information and payment terms.
What information does an invoice include?
An invoice includes:
• Date and unique reference number
• Description of goods or services
• Quantity and total cost
• Payment terms and due date
Why are invoices important?
Invoices create a formal record of sales and support accounts receivable tracking and cash flow management.
When should invoices be issued?
Invoices are issued after goods or services are delivered, or at agreed billing intervals.
What happens if invoices are not paid?
Unpaid invoices become overdue receivables and may require follow up or collection action.